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INCENTIVE COMPENSATION (Tables) | 12 Months Ended
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Dec. 26, 2021
Share-based Payment Arrangement [Abstract] |
Schedule of Awards | The following awards were outstanding during 2021:
Benefit Plan | Award Type |  | Grant Date |  | Grant Date Fair Value per Award |  | Vesting Condition |  | Vesting Date |  | Intended Settlement Method |  | Milestone Date Fair Value per Award |  | Awards Granted |  | Performance Target Achievement Award Adjustment |  | Awards Forfeited to Date
2009 LTIP | RSU |  | 3/1/2018 |  | $24.93 |  | Service |  | (a) |  | Stock |  | NA |  | 163,764 |  |  | — |  |  | (51,491) |
2009 LTIP | RSU |  | 3/1/2018 |  | $24.93 |  | Performance/Service |  | (b) |  | Stock |  | NA |  | 217,253 |  |  | (53,376) |  |  | (83,527) |
2009 LTIP | RSU |  | 3/1/2018 |  | $24.93 |  | Performance/Service |  | (c) |  | Cash |  | $27.55 |  | 66,272 |  |  | (17,863) |  |  | (15,235) |
2009 LTIP | RSU |  | 5/10/2018 |  | $21.54 |  | Service |  | (d) |  | Stock |  | NA |  | 8,358 |  |  | — |  |  | — |
2009 LTIP | RSU |  | 1/7/2019 |  | $16.47 |  | Performance/Service |  | (e) |  | Stock |  | NA |  | 414,620 |  |  | 39,620 |  |  | (198,103) |
2009 LTIP | RSU |  | 1/7/2019 |  | $16.47 |  | Performance/Service |  | (f) |  | Cash |  | $27.55 |  | 109,654 |  |  | 13,705 |  |  | — |
2009 LTIP | RSU |  | 5/24/2019 |  | $27.86 |  | Service |  | (d) |  | Stock |  | NA |  | 11,170 |  |  | — |  |  | — |
2019 LTIP | RSU |  | 1/8/2020 |  | $30.94 |  | Performance/Service |  | (g) |  | Stock |  | NA |  | 195,149 |  |  | 115,676 |  |  | (66,930) |
2019 LTIP | RSU |  | 1/8/2020 |  | $30.94 |  | Performance/Service |  | (h) |  | Cash |  | $27.55 |  | 121,310 |  |  | 71,573 |  |  | — |
2019 LTIP | RSU |  | 4/29/2020 |  | $22.01 |  | Service |  | (d) |  | Stock |  | NA |  | 13,630 |  |  | — |  |  | — |
2019 LTIP | RSU |  | 1/8/2021 |  | $19.73 |  | Service |  | (i) |  | Stock |  | NA |  | 95,000 |  |  | — |  |  | — |
2019 LTIP | RSU |  | 1/8/2021 |  | $19.73 |  | Service |  | (j) |  | Cash |  | $27.55 |  | 50,000 |  |  | — |  |  | — |
2019 LTIP | RSU |  | 1/8/2021 |  | $19.73 |  | Performance/Service |  | (k) |  | Stock |  | NA |  | 300,000 |  |  | — |  |  | — |
2019 LTIP | RSU |  | 1/8/2021 |  | $19.73 |  | Performance/Service |  | (l) |  | Cash |  | $27.55 |  | 100,000 |  |  | — |  |  | — |
2019 LTIP | RSU |  | 2/10/2021 |  | $22.96 |  | Performance/Service |  | (m) |  | Stock |  | NA |  | 307,986 |  |  | — |  |  | (35,558) |
2019 LTIP | RSU |  | 2/10/2021 |  | $22.96 |  | Performance/Service |  | (n) |  | Cash |  | $27.55 |  | 208,117 |  |  | — |  |  | — |
2019 LTIP | RSU |  | 3/15/2021 |  | $25.45 |  | Performance/Service |  | (o) |  | Stock |  | NA |  | 27,350 |  |  | — |  |  | — |
2019 LTIP | RSU |  | 4/28/2021 |  | $24.69 |  | Service |  | (d) |  | Stock |  | NA |  | 14,586 |  |  | — |  |  | — |
2019 LTIP | RSU |  | 5/3/2021 |  | $23.81 |  | Service |  | (p) |  | Stock |  | NA |  | 31,500 |  |  | — |  |  | — |
2019 LTIP | RSU |  | 8/16/2021 |  | $27.46 |  | Performance/Service |  | (q) |  | Stock |  | NA |  | 5,470 |  |  | — |  |  | — |
(a) The restricted stock units vest in ratable tranches on December 31, 2018, December 31, 2019 and December 31, 2020. Compensation cost related to these units totals $2.8 million based on a closing stock price for the Company’s common stock of $24.93 per share on March 1, 2018. Compensation cost will be amortized to profit/loss over the remaining vesting period. (b) The restricted stock units vested or will vest in ratable tranches on December 31, 2019, December 31, 2020 and December 31, 2021. Performance target achievement was 65%. Expected compensation cost related to these units totals $2.1 million based on a closing stock price for the Company’s common stock of $24.93 per share on March 1, 2018. Compensation cost will be amortized to profit/loss over the remaining vesting period. (c) The restricted stock units vested or will vest in ratable tranches on December 31, 2019, December 31, 2020 and December 31, 2021. Performance target achievement was 65%. Expected compensation cost related to these units totals $0.9 million based on a closing stock price for the Company’s common stock of $27.55 per share on December 26, 2021. Compensation cost will be amortized to profit/loss over the remaining vesting period. (d) These restricted stock units were granted to the non-employees who currently serve on the Company’s Board of Directors. Each participating director’s units will vest upon his or her departure from the Company’s Board of Directors. Compensation cost was recognized in profit/loss upon the grant date. (e) The restricted stock units vested or will vest in ratable tranches on December 31, 2020, December 31, 2021 and December 31, 2022. Performance target achievement was 112.5%. Expected compensation cost related to these units totals $4.9 million based on a closing stock price for the Company’s common stock of $16.47 per share on January 7, 2019. Compensation cost will be amortized to profit/loss over the remaining vesting period. (f) The restricted stock units vest in ratable tranches on December 31, 2020, December 31, 2021 and December 31, 2022. Performance target achievement was 112.5%. Expected compensation cost related to these units totals $3.5 million based on a closing stock price for the Company’s common stock of $27.55 per share on December 26, 2021. Compensation cost will be amortized to profit/loss upon satisfaction of the performance conditions over the remaining vesting period. (g) The restricted stock units will vest in ratable tranches on December 31, 2021, December 31, 2022 and December 31, 2023. Performance target achievement was 159%. Expected compensation cost related to these units totals $2.7 million based on a closing stock price for the Company’s common stock of $30.94 per share on January 8, 2020. Compensation cost will be amortized to profit/loss upon satisfaction of the performance conditions over the remaining vesting period. (h) The restricted stock units will vest in ratable tranches on December 31, 2021, December 31, 2022 and December 31, 2023. Performance target achievement was 159%. Expected compensation cost related to these units totals $5.5 million based on a closing stock price for the Company’s common stock of $27.55 per share on December 26, 2021. Compensation cost will be amortized to profit/loss upon satisfaction of the performance conditions over the remaining vesting period. (i) The restricted stock units will vest in ratable tranches on July 1, 2022, July 1, 2023 and July 1, 2024. Expected compensation cost related to these units totals $1.9 million based on a closing stock price for the Company’s common stock of $19.73 per share on January 8, 2020. Compensation cost will be amortized to profit/loss over the remaining vesting period. (j) The restricted stock units will vest in ratable tranches on July 1, 2022, July 1, 2023 and July 1, 2024. Expected compensation cost related to these units totals $1.4 million based on a closing stock price for the Company’s common stock of $27.55 per share on December 26, 2021. Compensation cost will be amortized to profit/loss upon satisfaction of the performance conditions over the remaining vesting period. (k) If performance conditions related to the Company’s 2021-2023 cash flows are satisfied, the restricted stock units will vest in ratable tranches on July 1, 2024, July 1, 2025 and July 1, 2026. Assuming we achieve 100% target performance, expected compensation cost related to these units totals $5.9 million based on a closing stock price for the Company’s common stock of $19.73 per share on January 8, 2021. Compensation cost will be amortized to profit/loss upon satisfaction of the performance conditions over the remaining vesting period. (l) If performance conditions related to the Company’s 2021-2023 cash flows are satisfied, the restricted stock units will vest in ratable tranches on July 1, 2024, July 1, 2025 and July 1, 2026. Assuming we achieve 100% target performance, expected compensation cost related to these units totals $2.9 million based on a closing stock price for the Company’s common stock of $27.55 per share on December 26, 2021. Compensation cost will be amortized to profit/loss upon satisfaction of the performance conditions over the remaining vesting period. (m) If performance conditions related to the Company’s 2021 operating results are satisfied, the restricted stock units will vest in ratable tranches on December 31, 2022, December 31, 2023 and December 31, 2024. Assuming we achieve 100% target performance, expected compensation cost related to these units totals $7.1 million based on a closing stock price for the Company’s common stock of $22.96 per share on February 10, 2021. Compensation cost will be amortized to profit/loss upon satisfaction of the performance conditions over the remaining vesting period. (n) If performance conditions related to the Company’s 2021 operating results are satisfied, the restricted stock units will vest in ratable tranches on December 31, 2022, December 31, 2023 and December 31, 2024. Assuming we achieve 100% target performance, expected compensation cost related to these units totals $7.1 million based on a closing stock price for the Company’s common stock of $27.55 per share on December 26, 2021. Compensation cost will be amortized to profit/loss upon satisfaction of the performance conditions over the remaining vesting period. (o) If performance conditions related to the Company’s 2021 operating results are satisfied, the restricted stock units will vest in ratable tranches on December 31, 2022, December 31, 2023 and December 31, 2024. Assuming we achieve 100% target performance, expected compensation cost related to these units totals $0.7 million based on a closing stock price for the Company’s common stock of $25.45 per share on March 15, 2021. Compensation cost will be amortized to profit/loss upon satisfaction of the performance conditions over the remaining vesting period. (p) The restricted stock units will vest in ratable tranches on December 31, 2022, December 31, 2023 and December 31, 2024. Expected compensation cost related to these units totals $0.8 million based on a closing stock price for the Company’s common stock of $23.81 per share on May 3, 2021. Compensation cost will be amortized to profit/loss over the remaining vesting period. (q) If performance conditions related to the Company’s 2021 operating results are satisfied, the restricted stock units will vest in ratable tranches on December 31, 2022, December 31, 2023 and December 31, 2024. Assuming we achieve 100% target performance, expected compensation cost related to these units totals $0.2 million based on a closing stock price for the Company’s common stock of $27.46 per share on August 16, 2021. Compensation cost will be amortized to profit/loss upon satisfaction of the performance conditions over the remaining vesting period.
Schedule of Compensation Cost and Income Tax Benefit | Compensation costs and the income tax benefit recognized for our stock-based compensation arrangements are included below:
| 2021 |  | 2020 |  | 2019
| (In thousands)
Equity-based awards compensation cost: |  |  |  |  |
Cost of sales | $ | 3,209 |  |  | $ | 838 |  |  | $ | 461 |
Selling, general and administrative expense | 7,420 |  |  | 1,938 |  |  | 9,671 |
Total cost | 10,629 |  |  | 2,776 |  |  | 10,132 |
Income tax benefit | 2,587 |  |  | 676 |  |  | 2,466 |
Net cost | $ | 8,042 |  |  | $ | 2,100 |  |  | $ | 7,666 |
Liability-based awards compensation cost: |  |  |  |  |
Selling, general and administrative expense | $ | 7,715 |  |  | $ | 1,081 |  |  | $ | 671 |
Income tax benefit | 1,878 |  |  | 263 |  |  | 163 |
Net cost | $ | 5,837 |  |  | $ | 818 |  |  | $ | 508 |
Schedule of RSU Activity | The Company’s RSU activity is included below:
| 2021 |  | 2020 |  | 2019
| Number |  | Weighted Average Milestone Date Fair Value(a) |  | Number |  | Weighted Average Milestone Date Fair Value(a) |  | Number |  | Weighted Average Milestone Date Fair Value(a)
| (In thousands, except weighted average fair values)
Equity-based RSUs: |  |  |  |  |  |  |  |  |  |  |
Outstanding at beginning of year | 584 |  |  | $ | 22.12 |  |  | 926 |  |  | $ | 24.04 |  |  | 1,069 |  |  | $ | 22.97 |
Transferred to liability-based awards | (8) |  |  | 23.53 |  |  | (200) |  |  | 26.91 |  |  | (36) |  |  | 24.67 |
Granted | 817 |  |  | 21.58 |  |  | 249 |  |  | 28.14 |  |  | 843 |  |  | 22.01 |
Vested | (153) |  |  | 19.48 |  |  | (66) |  |  | 24.93 |  |  | (723) |  |  | 22.08 |
Forfeited | (686) |  |  | 23.44 |  |  | (325) |  |  | 25.95 |  |  | (227) |  |  | 21.51 |
Outstanding at end of year | 554 |  |  | $ | 20.40 |  |  | 584 |  |  | $ | 22.12 |  |  | 926 |  | $ | 24.04 |
| 2021 |  | 2020 |  | 2019
| Number |  | Weighted Average Milestone Date Fair Value(a) |  | Number |  | Weighted Average Milestone Date Fair Value(a) |  | Number |  | Weighted Average Milestone Date Fair Value(a)
| (In thousands, except weighted average fair values)
Liability-based RSUs: |  |  |  |  |  |  |  |  |  |  |
Outstanding at beginning of year | 267 |  |  | $ | 19.35 |  |  | 143 |  |  | $ | 32.97 |  |  | — |  |  | $ | — |
Transferred from equity-based awards | 8 |  |  | 23.53 |  |  | 200 |  |  | 26.91 |  |  | 36 |  |  | 14.77 |
Granted | 358 |  |  | 21.61 |  |  | 135 |  |  | 29.47 |  |  | 110 |  |  | 16.47 |
Vested | (59) |  |  | 20.10 |  |  | (211) |  |  | 16.04 |  |  | (3) |  |  | 26.86 |
Forfeited | — |  |  | — |  |  | — |  |  | — |  |  | — |  |  | — |
Outstanding at end of year | 574 |  |  | $ | 27.55 |  |  | 267 |  |  | $ | 19.35 |  |  | 143 |  |  | $ | 32.97 |
(a) The milestone date fair value is either the closing price of the Company’s common stock on the grant date for equity-based awards or the closing price of a share of the Company’s common stock on the respective milestone date for cash-based liability-based awards (i.e., grant date, vesting date, forfeiture date or financial reporting date).

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- Definition Disclosure of the number and weighted-average grant date fair value for restricted stock and restricted stock units that were outstanding at the beginning and end of the year, and the number of restricted stock and restricted stock units that were granted, vested, or forfeited during the year. + References No definition available. + Details
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